Banking in Finland

[Brent]

The bank doesn't want any legal trouble if the friend can't understand the terms and conditions while doing banking then she might transfer money to the wrong place or open an account with terms she doesn't like and then try to tell the bank she didn't know what she was doing. so the bank wants customers to understand what they are doing - or be able to claim damages from an official translator who mis-translated the pages.

The term and condition were never asked to be read onsite nor understood. To be honest, nobody care about the term of the bank. They have their term, accept it and they will provide their services to you. Don't accept it? F*ck off! So if u need service X, you need to sign on that piece of paper and when u have signed it, the bank will hand you the term and say here is the term booklet, read it if you like. The law doesn't understand "oh.. I didn't know what I doing", it just knows that she has signed the contract therefore she is liable for her doings.

I would say who the F*CK are they to ask that the customer needs to hire a official translator. It's the customer's freedom of choice to ask who the f*ck ever to translate for her and she is the one who is responsible for that. The bank is not the f*cking government! Dare to ask the customer to spend over 100 euros of translation service just to get a f*cking internet banking access. F*ck that !"#¤% Kontula Nordea!

PS. I apologize for my language, it's just that I'm boiling here.

[burak25]

As a general Finnish Banking is 10 years behind from where I come from. Such a disappointment. Also For Nordea, some people are really helpful or trying to explain stupid rules in a apologizing manner while others are just plain bitches. I think they should give better training about handling costumers.

Carrying a paper to use internet banking. God that's awful. And charging around 3 euro for that stupid thing. Idiots should be happy that we are not using any machine or cashier service and helping them save money.

[riku2]

I don't see the point in getting so annoyed. if you don't like the conditions, taken your custom elsewhere.

I didn't like the demand from s bank to have a finnish photo id. I didn't get their credit card. I spend my money with credit cards from other banks (even at s chain retailers). s bank is the loser here. I spend a lot. That's a lot of commission they are losing thanks to their decision.

[SuomenKenraali]

If you guys have experience with multiple different banks, perhaps it would be most helpful to readers if we categorize our opinions in the following layout of the original post.

Customer Service:
When listing a bank in here take the following into consideration.
Multi language capabilities, honesty, sincerity and obvious will to help you in your banking/financial situations and decisions. This is arguable most crucial especially for a foreigner. Lack of multilingual potential and will to take the time to help with a new-comer who is not used to the type of banking system, would probably be the biggest ''deal breaker.'' Think hard and provide details for why you made the decision for this category.

Reliability:
Consider the banks history, especially on the higher management level. This is probably unheard of in Finland, but consider history of fraudulent loans, manipulative loans, and simply unreliable loans.. For example fluctuation of interest rate that was not listed as a possibility but made possible because of lack of protective language in the initial loan agreement.

Fee's and Pricing:
Does this bank lack significant fee's and cost where others do not?

Internet Banking:
Does this bank have IB possibilities? Consider the interface layout and multi language availability.

Obtaining a Loan:
With valid reason and proof of income, is obtaining a loan with this bank easier than the others? How so? Especially most common loans IE: consider mortgages and automobile loans.

Domestic Investments
Does this bank mainly invest in Finland rather than other countries within or outside of the EU?

Ease of Transfer:
Is it easy to transfer funds within and outside of the bank? International transfers of multi currency included.

Convenience:
Does this bank happen to be more convenient than others? Consider number of banks around the country able to provide face to face customer service. And.. private ATMs (if any)

[Rip]

Reasons why I think you didn't got replies like that before

Finnish banks have been very good at making their customers doing things online. So if there if they have an online bank works (they tend to, Sampo (nowadays Danske) had a few WTF moments in the past but even that seemed OK again on last attempt) then that and the one common "Otto" network make points 1) and rather moot. As said, if lack of English online banking is a deal breaker then you're likely restricted to Nordea, Danske and OP. (OK, Tapiola is purely online so you can't even put cash into an account or get it out with out having another account in in another bank- but they are getting merged to S-pankki soon anyway)

Reliability (2). Think most private customers think that the laws and deposit insurance covers them anycaser. I do not know if there are good grounds for owners of small enterprises to consider some particularly good or bad; there might be.

(3) Fees. S-pankki is free for most stuff (but you won't manage with English). Pricing structures of other seem all different. With a big loan or larger savings/investments some of the others a free too (as well as for those under 25-28 years old)

(4) Covered that one already. All have, few in English

(5) The most important factor for many. "Which bank gave the best offer when I needed to get the loan for my house/apartment?" Then you probably stick with it until it's been paid (you want money for buying a car or something. A secured loan is typically clearly cheaper than non-secured one - and which bank has in possession the ownership documents to the single most valuable thing that most own? The bank you got the mortgage from.) The answer to that question though depends both on who you are and when you happened to need that loan, so it is hard to make general statements (I ended up with Nordea).

(6) I do not probably understand what you mean. I don't think mare care where the bank puts their own money (see item (2)), for their customers I think all offer various domestic and foreign investment funds (and I would say stick to individual stocks and/or index funds))

(7) I think domestic and euro area transfers work the same with all. Transfers for further away are so rare for most people that they would not know or care when choosing a bank.

(8) had that one already. We customers have learned not be an inconvenience to the banks.

[lupine]

Don't suppose anyone's had any experience with handelsbanken in finland? Especially handelsbanken.uk <-> handelsbanken.fi interoperability? I'm currently trying to decide whether it's worth setting up a UK account with them now, and using them when I move to finland as well - wages would go into the sterling UK one, and I could automate stipend transfers into a euro-denominated one on the finnish side on a regular basis, and keep the two sides fairly separate.

I can see that there are handelsbanken offices in Turku and Helsinki, at least... does anyone know if they'd take custom from an immigrant, or how much of an advantage it'd be in practice to use them on both sides? It may be a bit of a long shot, given their specialist focus in .uk, but you never know.

[SuomenKenraali]

Currently stuck between OP and Nordea.. Lapland region

[Rip]

Don't suppose anyone's had any experience with handelsbanken in finland?

No Finnish online banking in English. Based on old experience Finnish issued ID card maybe necessity. (being a existing customer in another branch of course might help, but i wouldn't really expect it. Otherwise i think they are fine bank.

[Y77]

if she does not speak Finnish or English, the internet banking cannot be opened for her.

The bank doesn't want any legal trouble if the friend can't understand the terms and conditions while doing banking then she might transfer money to the wrong place or open an account with terms she doesn't like and then try to tell the bank she didn't know what she was doing. so the bank wants customers to understand what they are doing - or be able to claim damages from an official translator who mis-translated the pages.

about s bank and finnish id. I gave up with them. Why should I spend money on a finnish ID card just to get an s bank credit card. I'll survive with the other 10 credit cards I've got (s bank credit card would make it nicer to show just one card while shopping at s chain).

in my opinion is worth thinking long term.In my case I swapped my old uk licence for a finnish one,it cost me a bit but in exchange the new licence is valid till the year 2156 instead of having to renew it every 10 years.I didn't want to have anything that reminded me of my old life in uk anyway.Plus you save for example the 4 euros a month that Aktia would charge you for keeping YOUR money(s-pankki is free)and I think also they charge you a few euros a month for the debit card,that means that in less than a year you get the money you spent for the licence conversion back.

[Rip]

in my opinion is worth thinking long term.In my case I swapped my old uk licence for a finnish one,it cost me a bit but in exchange the new licence is valid till the year 2156 instead of having to renew it every 10 years.

What licence you have that is supposed to be valid for about 40 years more?

[Y77]

driving licence

[GWolf2012]

http://poliisi.fi/poliisi/home.nsf/page ... endocument
Now driving license is valid up to 15 years, and all the previous one are valid until 2033

[mmkhi]

Tapiola: didn't even let me in, pretty girl saying I have to speak Finnish first (and that if I would come with a translator that would not help). Ok, bye.

Danske(?) was it Sampo or no?:
I went in, said I want to open an account, they say no problem, let's make a meeting next week, I said I want it right now, not possible. Ok, bye.

Nordea:
I have account there = little paper card with number on it and 0€ since I have opened it = said story. I needed to get an insurance that is obligatory for tmi but TRYG agent will not take me if I don't have an account in Nordea - Nordea girl said the account is completely free of course. I agreed, she made the account, all the papers = 1h procedure and then I asked what's next:
- payment card application only after 3 month sending salary on that account
- before that only I can get the cash or send the money only from the bank office (check the fees! and all those poor old people)
- their free account would turn quickly into very expensive account in order to be actually even only basically usable.
So ... I have account in Nordea = little paper card with a number on it and 0€ from the beginning till end, but hey, it's for free and TRYG guy is so happy. Ok, bye.

After those 3 experiences I had enough. Banking elsewhere, not in Finland.

[cors187]

- payment card application only after 3 month sending salary on that account

In 2011 i was subjected to the same deal. I had work on a specialist visa for 3 months (Salary paid at the end of contract).
It was 3 days before i was leaving Finland and my contrat had 2 days left.(i was so busy i never opened a bank account)
Nordea didnt want to open the account at first, but i said i would put 50 euro in the account, "which covered some 30 euro charge(i forget for what,VISA card maybe)".

The way i understood nordea about internet banking was that the account needed a minimum of 1 month and deposits of 3 salary payments(they didnt have to be each month)Maybe i misunderstood it.

I had to ask the guy i worked with to send 3 separate payments and after that i needed to apply for netbank .
So many obstacles we used international payments with other banks. Owww well. Safe guards that make things work correct, Its the Finnish way.

But once your in Finland and have salary payment i think Nordea is standard to getting started.If you find something better you can swap it over.